Cable Update (GBPUSD)

Quoting Phil_GMT

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I'm going Short, because I was in a short from 1.1384, I think OBR Report is actually more important than Lizz Truss, I was targeting 1.1150, but now think it can go lower. SL=1.1500 I'm going back to that plan. We already knew Penny Mourdant and Hunt have the power and not Lizz Truss. So not much has changed other than the official Announcement. Resignation happened 2 weeks sooner than predicted in the financial press. Yes good she is gone, same Hunt budget.

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Quoting DmShka

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{quote} , BOJ can make something tommorow, the price already touch daily channel... Maybe could be good idea watching before 2 -1 hour before close Tokyo session, usually they manipulate price before close... or they will not do anything and will be something like 155 {image}

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Quoting Moty

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not enough volume tomorrow i will kick ass {image}

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Quoting sbmortimer

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Closed with +34 pips. I expected the pound to drop after Truss' resignation.

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Quoting cchin

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Currencies (GBP, JPY, ....) are likely to stay depressed for a while. What we're experiencing now, is nothing more than overseas US dollar liquidity crisis. There's a Eurodollar shortage. The SNB had just auctioned off $11 billion worth of USD to 17 banks yesterday, 19 Oct. Again, at 3.33% for 7 days maturity. It's more than likely they get that from the US liquidity swap with the Fed. We now had three dollar swaps, billion in value, every week since Oct. First, we had $3.1bn on 5 Oct. Then, $6.2bn on 12 Oct. Now, $11bn? It's likely that this Eurodollar...

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Quoting DmShka

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{quote} Do you mean that it could be like Quantitative Easing(like printing bucks)?, sorry for nooby questions, I'm far from economics

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Quoting cchin

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{quote} They probably need to do QE one way or another down the road. The only problem is they can't say that when inflation is still high, and rate hike/tightetning is half way through completion. Let's put it this way, Fed will hike no matter what until 2024. One way to see if Fed was serious in tightening, is to see how much assets (mainly treasuries and MBS) they have sold off their balance sheet. If they follow this path: 75 bps in Nov '22, 75 bps in Dec '22, 50 bps in Mar '23, 50 bps in Jun '23, 25 bps in Jul '23 and 25 bps in Sep '23, then...

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Quoting cchin

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{quote} Haha.. I see that as a good thing though. May be it's just my contrarian view on the world. Allowing people like those as leaders will speed up the process, that people will see there's no need for external "leaders", and every human walking this earth is him/herself already a leader. I always find, living in smaller, neutral countries where people don't know the name of your PM or President, had always offer the best quality of life and prosperity, because these countries don't stick their nose up other people's backside, so to speak. In...

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Quoting BigNumbers

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I was given a red badgeand it disappeared after two days. I’m sure some red badge holders here may have protested against it. Guess what I have come to realize in life - People are not ready to see TRUE HEROES. I’m not afraid to say that I will make a mark in the Forex industry because I deserve it. I’m studying Save my name… BigNumbers. My only advise to newbie is to study and stop depending on indicators. Good luck to everyone. @BigNumbers.

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Quoting RickM

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{quote} Honestly mate, you can have my badge if you want it. Its worth nothing, just attracts tons of private messages you can’t be bothered replying too. All it means is your activity increases advertising revenue for forex factory and your very opinionated. Best of luck

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